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Gaming Realms Plc Pre-Close Trading Update and Board Changes

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Gaming Realms, the developer and licensor of mobile-focused gaming content, has announced a pre-close trading update for the full year to 31 December 2022 (FY22).

The company confirms that it expects to report FY22 revenue of £18.7 million and adjusted EBITDA of £7.7 million, up 27% and 36% respectively year-on-year. This strong performance was driven by the continued growth of the Group’s licensing business that, during FY22, launched in two new North American regulated iGaming markets, Connecticut and Ontario, and with 58 new partners internationally.

The Group’s expansion into further new markets during Q4 FY22 has continued into Q1 FY23.

The company expects to report its FY22 Preliminary Results during the week commencing 3 April 2023.

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Q4 2022 Update

The company had a strong Q4, launching in multiple markets and with new partners. In October 2022, Gaming Realms launched in its 5th North American market in Connecticut, with DraftKings.

Also in Q4 2022, Gaming Realms launched games with 11 operators across its 5 markets in North America, including Caesars Sportsbook and 888 in New Jersey, Kindred in Pennsylvania, Four Winds in Michigan, and Ballys and Pointsbet in Ontario.

Increasing its European presence, Gaming Realms went live with 11 operators in Europe, including tier 1 operators Napoleon in Belgium, Snai in Italy, and Pokerstars in the UK.

Gaming Realms also repaid its outstanding loan to JPJ Group Holdings Limited (a wholly owned subsidiary of Bally’s Corporation), leaving the company debt free.

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Board Changes

In light of the continued development and growth of the company, Gaming Realms has appointed Mark Segal as CEO, and Geoffrey (Geoff) Robert Green, aged 34, as CFO and a director of the company, both with immediate effect.

Previously Mark Segal was CFO and acting COO, and Geoff Green was finance director in support of the CFO, and they have been successfully working together for more than three years. Michael Buckley remains as Executive Chairman.

Michael Buckley, Executive Chairman of Gaming Realms, said: “The Company has delivered another strong, full-year performance with growth coming from both existing and new markets. This growth has been supported by the new partnerships signed with igaming operators as well as the extension of our Slingo catalogue, with the release of new Slingo formats during the period, which have proven to be very popular. We are seeing good momentum, and backed by an exciting commercial pipeline and new games, we are confident that we will achieve further progress in 2023.

“As stated above, the Company has repaid the outstanding loan from JPJ Group Holdings Limited. This was repaid from internal cash resources, which demonstrates the highly cash generative qualities of Gaming Realms, and leaves the company debt free.

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“We are also delighted to announce that Mark and Geoff have been appointed CEO and CFO respectively. They have developed a strong working partnership in recent years whilst the business has achieved excellent growth. The Board is excited to be working with them in their new roles and supporting the Company’s ongoing commercial objectives.”

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Canada

Play’n GO announces partnership with Canadian operator Loto-Québec

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Play’n GO, the world’s leading casino entertainment provider, has today announced a partnership with Canadian operator Loto-Québec, launching the Swedish gaming giant’s games into another Canadian province.

Already active in another Canadian province , this partnership sees Play’n GO’s content available in the province of Québec exclusively with Loto-Québec, a state-owned corporation, where online players now have access to titles such as Tome of Madness. 

Magnus Olsson, Chief Commercial Officer, Play’n GO said: “At Play’n GO, we have always been clear in our vision to be active in every regulated market in the world, and this partnership with Loto-Québec is the next step on that journey.

“Our past success in Canada gives us confidence that players in Québec will enjoy the best Play’n GO content, and we look forward to many years of success with Loto-Québec in the province.”

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Stéphane Martel, Head of Product and Innovation at Loto-Québec added: “As the sole iGaming operator in Québec, we pride ourselves on offering titles that truly add value to our platform, lotoquebec.com. We are happy to bring Play’n GO games to our players.”

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Canada

Court Decision Upholds iGaming Ontario’s Model

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iGaming Ontario has welcomed the decision of the Ontario Superior Court, which found that iGaming Ontario’s model is consistent with the Criminal Code and that iGaming Ontario is conducting and managing igaming in the province.

“We have always been confident in our model and are pleased that the court has ruled in our favour, and that Ontarians can continue to play with confidence in our regulated igaming market,” said Martha Otton, Executive Director of iGaming Ontario.

“Ontario’s model meets the requirements and contributes to the public good by protecting players, their data and their funds, while helping to fund priority public services in Ontario, and bringing well-paid, high-tech jobs and economic development to Ontario,” Otton added.

In dismissing the application brought forward by the Mohawk Council of Kahnawà:ke (MCK), the Superior Court found that iGaming Ontario is the “operating mind” behind Ontario’s competitive igaming market in accordance with the conduct and manage requirements of the Criminal Code.

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iGaming Ontario will continue to conduct and manage igaming as it has since the launch of the regulated market on April 4, 2022.

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Bragg Gaming Group

Bragg Gaming Appoints Renowned iGaming Executive Neill Whyte as Chief Commercial Officer

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Bragg Gaming Group, a global iGaming technology and content provider, announced that Neill Whyte has been appointed as Chief Commercial Officer (CCO), effective 1st May 2024, establishing a new global commercial structure at the Company and bolstering its leadership team.

Whyte brings over 18 years of experience in the iGaming sector, most recently in the role of Chief Commercial Officer at Digital Gaming Corporation’s (DGC), B2B iGaming Division. After joining DGC in early 2020, he was responsible for the commercially successful launch and growth of its content distribution business in the US.

Prior to joining DGC, Whyte held multiple positions in the gaming industry including as Head of Business Development at Isle of Man-based iGaming specialist Apricot Investments, as Board Member at Swedish iGaming product and Lottery content distributor Genera Networks, and in various senior roles over eleven years at leading iGaming content supplier Microgaming, including as Head of Product Channels.

In his new role with Bragg, Whyte will be tasked with leading the Company’s global commercial teams to drive growth across all of the Company’s product verticals which include proprietary online casino content from its Atomic Slot Lab, Indigo Magic and Wild Streak Gaming studios, exclusive content from content partners, HUB a leading casino content aggregation platform, Fuze player engagement, as well as its award-winning player account management (PAM) platform and turnkey solutions.

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Matevž Mazij, Chief Executive Officer at Bragg, said: “I am very pleased to be announcing today the appointment of Neill Whyte as Chief Commercial Officer at Bragg. His iGaming product and market knowledge, together with his record in driving growth from developing successful and mutually beneficial commercial partnerships are exceptional.

“As we leverage our broad content and product portfolio to grow in existing and new markets, including in the United States, Canada, Latin America and Europe, Neill’s unique combination of knowledge, skills and experience in this sector are a perfect fit for our ambitions at Bragg.”

Neill Whyte, Chief Commercial Officer at Bragg, said: “It’s an honor to join Matevž and the wider teams at Bragg already in place across North America, Europe and in India. I have been impressed with the depth and quality of the content, product and technology offerings at Bragg, and its ability to rapidly adapt, certify and deploy this content and technology in newly regulated markets is a distinct advantage.

“We also have a huge opportunity to grow our footprint with our existing customers in markets in which we are already established. Our content and product roadmaps are second to none, and I’m planning to get on the road in the coming weeks and months to meet the team and our customers and to start building for the next stage of mutual growth. I can’t wait to get going.”

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